Inventory management of electronic equipment can be a very challenging task. Electronic equipment may include, for example, a rack (cabinet) with multiple rack mounted assets (racked assets) installed therein. The cabinet and racked assets may be located in a lab setting where the equipment is being tested and/or used for its intended purpose. For example, a cabinet may contain racked assets that include data storage devices or disks that are being powered on and run through reliability testing in a test lab. Alternatively, the lab could be a data center wherein the cabinet and racked assets are being used to service real-time customer requests. In either case, it is important to know where in the lab setting (which can be expansive and cover hundreds or thousands of square feet of floor space in one or more buildings or locations) a particular cabinet or a particular racked asset is located.